With Proper Implementation Construction 2020 can Make a Significant Contribution to Economic Recovery
May 14, 2014
Chambers Ireland has today (14/05/14) welcomed the launch of the Government’s new construction strategy, which aims to create 60,000 new jobs by 2020.
Speaking this evening, Chambers Ireland Chief Executive Ian Talbot said “In this strategy the Government has recognised the relationship between strategic growth in the construction sector and a broader, sustainable economic recovery. By including initiatives in the commercial sector and recognising existing problems with planning and regulations, the Government is taking the kind of holistic approach which is required to stimulate the construction sector.”
“Schemes that will lead to increased flexibility in existing and new planning decisions, as well as incentives to make better use of vacant sites, can only be seen as a boost to local economies. At a national level, a recognition that investment in construction and infrastructure leads to increased Foreign Direct Investment is welcome. Furthermore, Regional Spatial and Economic Strategies should ensure economic recovery reaches every part of the State.”
“However, no barriers to development can be allowed to remain. One remaining area of concern is the 80% Capital Gains Tax paid when land is sold following rezoning.”
“There is much to applaud in this strategy; however, as with all such schemes, success cannot be judged on aspirations. Government must invest the necessary funds and work tirelessly to ensure all of the initiatives are put into place and achieve the stated outcomes,” he concluded.0